next to Bryton House.
sold at $328 psf GFA
http://www.onemap.sg/?SearchVal=11%20Cha...,IYJIJ_c,b
http://infopub.sgx.com/FileOpen/231213SG...eID=268589
1. INTRODUCTION
1.1 Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial
Trust (“CIT”, and the manager of CIT, the “Manager”), is pleased to announce that
RBC Investor Services Trust Singapore Limited, in its capacity as trustee of CIT (the
“Trustee”) has on 20 December 2013 entered into a conditional sale and purchase
agreement (“SPA”) with Shriro Property (Singapore) Pte Ltd (the “Vendor”) in
connection with the proposed acquisition (the “Acquisition”) of 11 Chang Charn Road
Singapore 159640 (the “Property”) for a purchase consideration of S$32.0 million (the
“Consideration”).
1.2 Based on the relative figures calculated on the bases set out in Rule 1006 of the
Listing Manual of Singapore Exchange Securities Trading Limited (the “Listing
Manual”), the Acquisition is a non-discloseable transaction for the purposes of Chapter
10 of the Listing Manual.
2. DETAILS OF THE ACQUISITION
The Property is a 6-storey purpose-built warehouse cum light industrial building
located along Hoy Fatt Road, off Jalan Bukit Merah and Leng Kee Road, and within
the prime Bukit Merah industrial precinct. It is well connected via major roads and
expressways such as Alexandra Road, the Central Expressway and Ayer Rajah
Expressway. The Property is a 5 minutes’ walk from the Redhill MRT station and 10
minutes’ drive from the Central Business District.
The Property is a leasehold property with remaining land tenure of approximately 43
years. It has a gross floor area of approximately 9,062 square metres. The Property
will be sold on an ‘as-is-where-is’ basis and the Vendor will take a partial leaseback
while the remaining subsisting sub-leases will be assigned to CIT on completion.
3. CONDITIONS PRECEDENT
The Acquisition is subject to the fulfillment of certain conditions precedent including but
are not limited to the following:
(a) the Vendor and the Trustee having received the relevant approvals, including
the approvals from head lessor for the Acquisition and the Trustee’s lease to
the Vendor;